ONESOURCE Indirect Tax

The centralized, automated approach to managing the complexities of sales tax, use tax, and VAT compliance

Description:

ONESOURCE Indirect Tax delivers a consolidated approach to achieving higher degrees of sales and use tax and value-added tax compliance. It is a global, end-to-end solution that integrates in real time with finance applications designed to manage the entire indirect tax management lifecycle from tax determination and calculation, to tax policy configuration and reporting, and all the way through to compliance activities to meet returns filing, remittance, and audit requirements. Its tax-content driven calculation solution covers over 14,500 taxing jurisdictions in over 175 countries, delivering on-time monthly tax updates via SSAE 16 certified global tax research processes. 

Features

Benefits

Supports global transactions including in emerging markets
Centralized tax department control regardless of geographic location or tax regime complexity as well as global support for acquisitions, mergers, and expansion.
Patented tax determination engine with embedded tax rules and logic and product taxability
Remove human error - No need to rely on manual selection
Complete modeling capabilities
Enables effective tax planning strategies
Detailed transaction and compliance tax reporting
Ensures audit defense and preparedness
Real time integration to multiple financial applications
Reduces need for IT to support tax function in business applications and ensures consistent tax liability data across multiple business systems
E-filing for simple and timely U.S. & VAT compliance
Improve cash flow, decrease DSOs related to tax, and reduction of fines and penalties in audit
Robust exemption certificate management capabilities
Facilitates the accumulation, electronic storage, and maintenance of valid exemption certificates in a consolidated repository and reduces or removes the need to store paper copies of certificates in storage cabinets.

Technical Specifications

Software Minimum Requirements

  • Client Tier: Microsoft Internet Explorer
  • Middle Tier: Apache Tomcat, Oracle Weblogic Server, Oracle 12gAS, IBM Websphere, SAP NetWeaver, or Red Hat JBoss AS
  • Database Tier: Oracle, DB2/UDB & Microsoft SQL Server
  • Operating System (all tiers): Windows HP/UX, Linux, and Oracle Solaris on SPARC

Hardware Minimum Requirements

  • Client Tier: No Minimum Requirements
  • Middle Tier: RAM–1 GB; CPU: No Minimum Requirements; Disk Space: 500 MB
  • Database Tier: RAM–512 MB; CPU: No Minimum Requirements; Disk Space: 2 GB Oracle, DB2/UDB & Microsoft SQL Server
  • Operating System: Windows, HP/UX, Linux, and Oracle Solaris on SPARC